Financial and Banking News


Jordanization Decree Cancelled for Foreign Banks 

Sixteen months after requiring the country's eight foreign banks to offer a 51% stake to local interests by the end of 1986, the Jordanian authorities have rescinded the order. The new government of Prime Minister Zaid Rifa'i, which took office on 4 April with a pledge to "strengthen, deepen and enlarge" the private sector, announced on 13 April that with the exception of...